Prior to the Taxpayer Relief Act of 1997, Congress forbid the use of almost all types of precious metals in IRAs. The only precious metals Americans were allowed to own directly within IRA accounts were U.S.-minted American Eagle gold and silver coins.

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The COVID shutdowns took a big chunk out of a lot of peoples’ retirement savings. But a strong market rebound in 2020 and early 2021 helped put disciplined savers back on an even keel. How are most Americans doing when it comes to retirement savings, and how do you compare?

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Most people have the option to begin taking Social Security at the age of 62. Spouses can also elect to start taking benefits on their spouse’s Social Security as early as age 62.

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The federal Thrift Savings Plan (TSP) has been a great way for military and federal employees to set money aside for retirement – at a very low cost. But there’s one big problem: It’s not diverse enough.

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Generally, the rules concerning IRA transactions for gold IRAs are the same for other kinds of IRAs. There are some rules that apply specifically to gold and other precious metals in IRAs that are not applicable to other IRAs, such as purity and storage requirements. However, this post will focus on the tax rules that apply to the most common IRA transactions.

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Prior to the election, many writers and political analysts expected that Biden would likely win the White House. It was also ‘expected’ that the Democrats would remain in control of the House of Representatives, and that their power would be checked by continued Republican control of the Senate.

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